Industry deed

The Home Warranty Insurance (now known as insurance under the Home Building Compensation Fund) Industry Deed is an agreement between the government and the former private insurers approved under the Home Building Act 1989 to provide home warranty insurance (insurance under the Home Building Compensation Fund) in NSW.

The deed sets out the government’s commitment to consult with insurers on any changes to the home warranty insurance (insurance under the Home Building Compensation Fund) scheme, such as changes to the legislation and the market practice and claims handling guidelines required to be complied with by insurers as part their conditions of approval.

In turn, the insurers have made commitments related to maintaining systems and processes; portfolio transfers and assigning liabilities.

All private insurers who were approved to provide home warranty insurance in NSW are signatories to the agreement.

The deed's development was overseen by the Home Warranty Insurance Scheme Board and commenced on 30 December 2005.